Kings Path Partners LLC Sells 12,550 Shares of Excelerate Energy, Inc. (NYSE:EE)

Kings Path Partners LLC reduced its stake in shares of Excelerate Energy, Inc. (NYSE:EE - Free Report) by 38.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,937 shares of the company's stock after selling 12,550 shares during the period. Kings Path Partners LLC's holdings in Excelerate Energy were worth $572,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Summit Investment Advisors Inc. increased its stake in Excelerate Energy by 28.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,791 shares of the company's stock valued at $54,000 after acquiring an additional 400 shares during the period. Sterling Capital Management LLC lifted its position in shares of Excelerate Energy by 3.0% during the fourth quarter. Sterling Capital Management LLC now owns 17,119 shares of the company's stock worth $518,000 after purchasing an additional 494 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Excelerate Energy by 11.6% during the fourth quarter. SG Americas Securities LLC now owns 8,141 shares of the company's stock worth $246,000 after purchasing an additional 845 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Excelerate Energy during the fourth quarter worth approximately $27,000. Finally, Jaffetilchin Investment Partners LLC lifted its position in shares of Excelerate Energy by 14.2% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 8,113 shares of the company's stock worth $245,000 after purchasing an additional 1,007 shares in the last quarter. 21.79% of the stock is currently owned by hedge funds and other institutional investors.

Excelerate Energy Stock Performance

Shares of NYSE EE traded up $0.70 during mid-day trading on Tuesday, reaching $29.52. 82,885 shares of the company were exchanged, compared to its average volume of 286,575. Excelerate Energy, Inc. has a twelve month low of $16.75 and a twelve month high of $32.99. The company has a quick ratio of 4.12, a current ratio of 4.12 and a debt-to-equity ratio of 0.34. The company's 50-day simple moving average is $27.20 and its 200-day simple moving average is $29.10. The stock has a market capitalization of $3.37 billion, a P/E ratio of 29.82, a P/E/G ratio of 5.82 and a beta of 1.39.

Excelerate Energy (NYSE:EE - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.39 by $0.10. The company had revenue of $315.09 million during the quarter, compared to analysts' expectations of $207.87 million. Excelerate Energy had a net margin of 3.14% and a return on equity of 1.39%. The firm's revenue was up 14.8% compared to the same quarter last year. As a group, research analysts predict that Excelerate Energy, Inc. will post 1.16 earnings per share for the current year.

Excelerate Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Wednesday, May 21st will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Wednesday, May 21st. Excelerate Energy's dividend payout ratio is currently 16.33%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EE. Wells Fargo & Company reiterated an "underweight" rating on shares of Excelerate Energy in a research report on Friday, March 28th. Barclays increased their price objective on shares of Excelerate Energy from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Stephens reiterated an "overweight" rating and issued a $36.00 target price on shares of Excelerate Energy in a report on Monday, March 3rd. Finally, Wall Street Zen downgraded shares of Excelerate Energy from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Excelerate Energy currently has an average rating of "Hold" and an average price target of $31.17.

Excelerate Energy Company Profile

Excelerate Energy, Inc provides flexible liquefied natural gas (LNG) solutions worldwide. The company offers regasification services, including floating storage and regasification units (FSRUs), infrastructure development, and LNG and natural gas supply, procurement, and distribution services; LNG terminal services; and natural gas supply to-power projects.